IoTeX Foundation Vows Full Repayment After $4.4M Bridge Hack
The IoTeX Foundation announced it will reimburse all users impacted by a $4.4 million bridge exploit that occurred last week, drawing from foundation treasury funds to cover losses even if attacker-recovered funds are not returned. The foundation said refunds will proceed irrespective of eventual asset recovery, while teams and external partners continue efforts to trace and recover stolen tokens.
The pledge is intended to stabilise user confidence and limit long-term reputational damage to the IoTeX ecosystem; it also creates near-term pressure on the foundation’s reserves and could influence token sentiment. Affected users should monitor official IoTeX channels for claim instructions and timelines. The incident underscores persistent bridge security risks and may spur fresh attention to cross-chain safeguards across projects.
